Luxury Property: Development in Recent Years

Sujan Afi S

Introduction

Man has always tried to lead an easy life. He has tried to change everything as per his own needs and requirements. Once when he got tired of hunting and food gathering, he started cultivation of crops near his own space so that he can spend time as he wants. Once he felt irritated with the intense heat of the summer sun, he invented the A.C. With the advancement of time and technology man is getting more accustomed to a luxurious living. Thus, emerged the concept of luxury property!

But, man didn’t stop here. He has started making innovations within the sphere of luxury properties also, thus, increasing his comfort level. In this blog, we will go through the little changes that man has tried to make in luxury properties.   

What is a luxury property?

In modern times the concept of luxury real estate properties has changed a lot. With technological innovation, the emergence of large real estate companies (Brands), customized offerings, etc., the concept of a luxury property is getting evolved day by day. In today’s world luxury properties are characterised by innovations! They are constructed with the application of the latest architectural technology and materials. Besides, the builders and developers also provide several amenities like a swimming pool, balconies with a great view, games room, gymnasium/recreational spaces, central air condition, recreational park, spa centre, large green spaces, facilities of natural lighting and ventilation, earthquake-resistant characteristics, high use of technology in maintenance of the entire building, etc. 

Price of luxury properties

The price of a luxury property varies according to the location. For instance, in India, the price of a luxury property in Mumbai is generally high than that in Chennai. On the other hand, the price of the luxury properties in London and New York is observed to be relatively high than Islamabad, Dhaka, Bangalore, etc. But generally, the prices of luxury properties range between 5 crores to 10 crores.

Changes in luxury properties in recent years

With the change of lifestyle and with technological advancement, luxury properties have changed a lot. The builders and developers have taken into consideration the demands and the desires of the home buyers and have made provisions of the same. Though it is tough to categorise such changes, a few of them are mentioned below.

  1. Amenities: The modern luxury apartment is characterized by several new amenities which make life easier and comfortable. The builders and developers have included spa centre, green space, gym center, car parking area, central air condition, etc. to the buildings to meet the demand of the people. Hence, nowadays you can get everything that you need in one space only. You don’t need to hover around anymore!
  1. Construction material: With the advancement of technology various advanced construction materials are being used which increases the protection against damage to a large extent. Hence, you invest once and enjoy for your entire life!
  1. Architectural design: The luxury properties in today’s world can easily be identified based on their unique architectural designs! The luxury building constructed with very advanced and complex architectural designs is marvelous.
  1. Use of technology in maintenance and management: The modern luxury building use various advanced technologies for its maintenance and management. For example, remote monitoring of the house, application of audio-video security features, use of motion detector, car lifts, etc. All these features have increased the comfort level of the residents of the buildings. However, the overall price of the apartments, the maintenance charge, electricity charge, etc. have also increased due to this. 
  1. Services: The quality of various services provided to the residents have also changed a lot with time. This is why more people are getting attracted to buying luxurious homes and apartments. 
  1. Safety: For increasing safety, several measures are now taken in any modern luxury building. For instance, nowadays you get advanced fire safety management systems, earthquake-resistant buildings, etc. All these factors give you a sense of confidence and peace of mind. Thus, you live comfortably inside the building!
  1. Green Building: For maintaining a healthy atmosphere in the residence, the builders also provide green space to its residence. The concept of green building is considered to be a new one in the market of luxury real estate properties. Lots of plants and trees are included inside the building and in the open space so that you get fresh air to breadth. This not only is good for your health but also refreshes and re-energises you for further activities. 
  1. Location: In the old concept only a city’s Central Business District (CBD) area and its surrounding was considered to be the prime location for constructing luxury properties but it is not completely true now. Besides CBD, luxury properties are also being constructed in those areas where the rich people want to move because of its good economic and environmental condition as well as easy availability of all necessary amenities and services. 

Conclusion

Luxury properties have evolved a lot during the past years and the main basis of these changes are technological advancement, innovation, changing of the lifestyle of the people. Creativity is very important for everything. Therefore, the builders and developers are giving extra emphasis on innovation and uniqueness before constructing luxury properties. I hope that I have been able to show the changes that you can find in luxury buildings recently. Still, if you need more information regarding it you can mail us at info@roodland.com. We guarantee you to provide the best guidance and solve every problem of yours related to real estate. Roodland considers you and values your needs and demands. Your problem is ours too! We listen to your issues and solve them accordingly. So, drop a mail to get in touch with us!

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